Posted by: ctraderd | September 23, 2012

Watchlist- Week of 9/23/12

Last week, I only made one trade where I closed out USO at a loss of around $200. I had no options expiring because I did not want to end up like last month with a pit of lost profits. I opened a long term straddle in EEM, buying 3 Dec12 43 Puts and 4 Dec12 43 Calls. So far, I am –158 on the trade, but I am expecting that to change before December. Before making any trades based on the article, read my disclaimer and do your own research!!

1.) iShares MSCI Emerging Markets Index (EEM):

EEM fell –.39 last week for a total of -0.92%. It barely moved due to Options Expiration. I ended up jumping into a long term straddle, buying 3 Dec12 43 Puts and 4 Dec12 43 Calls. So far, I am –158 on the trade, but I am expecting that to change before December. My reason for entering this position is the uncertainty of the future. The index could really go either way. The chart looks like the index will fall in the very near future because it just had a breakout due to a wedge.

EEM

2.) SPDR Gold Trust (GLD):

GLD didn’t really move last week as a whole. It only went up +.042 for a total of +.02%. I opened up an October straddle in which I bought 3 Oct12 172 calls and 1 Oct12 172 Put on September 13, 2012. I am down only –178 on the trade, but I might be getting rid of the calls on Monday due to the fact that GLD is hitting major resistance at its current point. The reason for opening this trade was Bernanke’s decision two Thursdays ago.

GLD

3.) Exelixis, Inc. (EXEL):

EXEL had a phenomenal week last week, gaining +.295 for a total of +5.61%. I was bidding on shares on Tuesday, but unfortunately I missed my fill. I will be watching EXEL closely, looking for any point of entry to catch some of the run up for their November 29 PDUFA on Cobozantinib, a potent dual inhibitor of the MET and VEGF pathways designed to block MET driven tumor escape. EXEL has released a video on the basic functions of Conzantinib here: http://www.exelixis.com/cabozantinib

EXEL

Disclosure: I am long GLD Calls and Puts, EEM Calls and Puts and I currently have no position in EXEL, but I am looking to add within 48 hours.

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